Core Insights - Spartan Capital Securities, LLC acted as the sole placement agent for a $17 million private investment in public equity (PIPE) financing for Powell Max Limited [1][2] Financing Details - Powell Max Limited entered into a securities purchase agreement with accredited investors, agreeing to issue units consisting of one Class C ordinary share and a warrant to purchase Class A ordinary shares, with total gross proceeds of $17 million [2] - The purchase warrants have no specific term and an exercise price of $0.001 per Class A ordinary share, subject to adjustments [3] - The company plans to use $9.4 million of the net proceeds to repurchase 1,449,732 Class A ordinary shares from Bliss on Limited, with the remainder allocated for general corporate purposes [3] Company Overview - Powell Max Limited is a financial communications services provider based in Hong Kong, offering services that support capital market compliance and transaction needs for corporate clients [5] - The company's services include financial printing, corporate reporting, communications, and language support, catering to both domestic and international companies listed in Hong Kong [5]

Financial Performance - Revenue for the year ended December 31, 2024, decreased by 25.7% to HK$36.5 million (US$4.7 million) from HK$49.1 million in 2023, primarily due to declines in corporate financial communications and IPO financial printing services [2][8] - General and administrative expenses increased by 128% to HK$24.9 million (US$3.2 million) for the year ended December 31, 2024, compared to HK$10.9 million in 2023, driven by issuance expenses and higher professional services and employee benefits costs [3] - Selling and distribution expenses rose by 55.6% to HK$7.0 million (US$0.9 million) for the year ended December 31, 2024, from HK$4.5 million in 2023, attributed to an increase in sales team staff and business development expenses [4] - The net loss for the year ended December 31, 2024, was HK$18.1 million (US$2.3 million), a significant decline from a profit of HK$7.1 million in 2023 [5][8] - Basic and diluted loss per share was HK$1.37 (US$0.18) for the year ended December 31, 2024, compared to earnings per share of HK$0.56 in 2023 [5] Company Overview - Powell Max Limited is a financial communications services provider based in Hong Kong, offering a range of services including financial printing, corporate reporting, and language support for corporate clients [6] - The company serves both domestic and international companies listed in Hong Kong, as well as those seeking to list, along with their advisors [6] Financial Position - Total assets increased to HK$62.57 million (US$8.06 million) as of December 31, 2024, from HK$22.99 million in 2023 [11][12] - Current liabilities rose to HK$40.14 million (US$5.17 million) as of December 31, 2024, compared to HK$37.03 million in 2023 [12] - Total liabilities increased to HK$41.30 million (US$5.32 million) as of December 31, 2024, from HK$38.30 million in 2023 [12]